Medallion Changes Name to Gabo Mining Ltd.
February 09 2024 - 4:15PM
Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF;
Frankfurt: MRDN) – “Medallion” or the “Company”) announces
that effective February 14, 2024, the Company is changing its
corporate identity and rebranding as “GABO MINING LTD.” and will
start trading on the TSX Venture Exchange under the symbol “GAB”.
The Company also announces that pursuant to directors'
resolutions dated January 11, 2024 and following the receipt of all
necessary approvals, effective February 14, 2024 the Company will
be consolidating its common shares on the basis of one (1) new
post-consolidation common share for every seven (7)
pre-consolidation common shares (the "Consolidation").
Effective at the opening of the market on February 14, 2024, the
common shares of the Company will commence trading on a
post-Consolidation basis under the new ticker symbol "GAB" (CUSIP:
36269D101; ISIN: CA36269D1015). There are currently 70,194,437
common shares outstanding, and following the completion of the
Consolidation, the Company will have approximately 10,027,777
shares outstanding.
No fractional shares will be issued in connection with the
Consolidation. Each fractional share following the Consolidation
that is less than one-half of a share will be cancelled and each
fractional share that is at least one-half of a share will be
rounded up to the nearest whole share. No cash consideration will
be paid in respect of fractional shares.
All options and warrants outstanding will reflect the change in
accordance with the Consolidation. Registered holders of common
shares will receive a letter of transmittal from Computershare
Trust Company of Canada with instructions on how to exchange
existing share certificates for new post-Consolidation share
certificates.
ABOUT MEDALLION RESOURCES LTD.Medallion
Resources (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) has
developed a proprietary process and related business model to
achieve low-cost extraction of rare earth elements from monazite, a
phosphate mineral that is a common byproduct of heavy mineral sand
operations.
REEs are critical inputs to electric and hybrid
vehicles, robotics, electronics, imaging systems, wind turbines,
and strategic defense systems. Medallion is committed to following
best practices and accepted international standards in all aspects
of mineral transportation, processing, and the safe management of
waste materials. Medallion utilizes the Life Cycle Assessment
methodology to support investment and process decision-making.
Contacts
Gabriel Alonso-Mendoza, Interim CEO+1 212 970
1963 | gam@mdl-innovations.com
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Medallion management takes full responsibility
for the content of and has prepared this news release. Some of the
statements contained in this release are forward-looking
statements, such as statements regarding its rights to
commercialization of technologies and opportunities for expansion
of the technology portfolio in the future, and any statements that
describe Medallion’s plans with respect to general strategic
matters and the advancement of its business plan, and Medallion’s
ability to advance and commercialize its technology platforms and
negotiate commercial agreements with third parties.
Forward-looking statements are frequently, but
not always, identified by words such as "expects," "anticipates,"
"believes," "intends," "estimates," "potential," "possible,"
"projects," "plans," and similar expressions, or statements that
events, conditions or results "will," "may," "could," or "should"
occur or be achieved or their negatives or other comparable
words. Since forward-looking statements address future
events and conditions, by their very nature, they involve inherent
risks and uncertainties, including the risks related to market
conditions and regulatory approval and other risks outlined in the
Company’s management discussions and analysis of financial results.
Actual results in each case could differ materially from those
currently anticipated in these statements. These forward-looking
statements are made as of the date of this press release, and,
other than as required by applicable securities laws, Medallion
disclaims any intent or obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required pursuant
to applicable laws.
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